Aqua America Makes Second East Coast Area Purchase of Year

Mar 31, 2014 1:20 pm ET

(Adds Illinois water upgrade plans in third paragraph.)

March 31 (Bloomberg) -- Aqua America Inc., the second- largest publicly traded water company in the U.S. after American Water Works Co., purchased the Penn Township wastewater system in Chester County.

The Bryn Mawr, Pennsylvania-based company, which said the Pennsylvania deal and planned infrastructure improvements would total about $5.7 million, earlier this year bought four water and wastewater systems through its unit in Virginia.

The company’s Illinois subsidiary also announced plans today for $30.1 million in capital investments this year to improve drinking water and wastewater infrastructure in the state, much of it in Kankakee County.